Sector News

Roche to acquire biopharma firm Good Therapeutics for $250m

September 11, 2022
Life sciences

Roche has signed a definitive merger agreement for the acquisition of US-based biopharmaceutical company Good Therapeutics for an upfront payment of $250m in cash.

Good Therapeutics focuses on the development of PD-1-regulated IL-2 drugs that are based on innovative conditionally active drug technology.

With the takeover, Roche will attain rights to a conditionally active, PD-1-regulated IL-2 programme of Good Therapeutics.

Additionally, the company will gain the exclusive right to Good Therapeutics’ platform technology to develop PD-1-regulated IL-2 receptor agonist therapies.

Good Therapeutics founder and CEO John Mulligan said: “Good Therapeutics was founded to create a new class of conditionally active therapeutics that will be more effective and avoid the problem of systemic immune activation seen with previous versions of such drugs.

“We have focused on PD-1-IL-2 as a biology that has great potential for benefiting patients.”

Apart from the upfront payment for Good Therapeutics’ shares on a fully diluted basis, Roche will also make further payments on meeting prespecified development, regulatory and commercial milestones.

On concluding the deal, the Good Therapeutics team intends to leverage its technology to design conditionally active therapies for other immuno-oncology targets and further in a new firm, Bonum Therapeutics.

Roche Pharma Partnering global head James Sabry said: “We are excited to bring Good’s innovative PD-1-regulated IL-2 programme into our existing oncology pipeline, which nicely complements our efforts on next-generation PD-1-targeted IL-2 therapeutics and our broader oncology strategy of providing cancer patients with innovative solutions and improving health outcomes.

“With our proven track record in cancer immunotherapy, we are well-positioned to leverage our deep discovery, development, clinical, and manufacturing capabilities and worldwide reach to potentially bring innovative products from this programme to patients as fast as possible.”

Subject to necessary clearance, the acquisition is anticipated to conclude in the third quarter of this year.

In August, the company entered a strategic partnership and licence agreement with Poseida Therapeutics for developing allogeneic CAR-T cell therapies for hematologic malignancies.

Source: pharmaceutical-technology.com

comments closed

Related News

February 4, 2023

MedTrace receives U.S. patent for diagnosing the human heart

Life sciences

The U.S. Patent and Trademark Office issued a patent to MedTrace for their method of diagnosing the human heart via 15O-water PET. The patented method is the foundation of the company’s software aQuant, currently under development. Hendrik “Hans” Harms, PhD and Senior Scientist at MedTrace, and Jens Soerensen, Professor and Clinical Advisor to MedTrace, are the originators of the method.

February 4, 2023

Roche taps insider Teresa Graham for top pharma job as setbacks prompt M&A questions

Life sciences

Teresa Graham, currently head of global product strategy for Roche pharma, will become the division’s new CEO next month, Roche said Thursday. Simultaneously, Roche is elevating Levi Garraway, chief medical officer, to the executive committee.

February 4, 2023

J&J’s pharma group quietly works through global overhaul, with layoffs expected to reach multiple countries

Life sciences

Fierce Pharma has obtained internal documents and video of a town hall meeting conducted this week describing what J&J called a “comprehensive review” of its portfolio. Moving forward, J&J plans to operate its vaccines and infectious diseases outfits as one group, the executives explained.

How can we help you?

We're easy to reach